Centre gives Rs 1,982 crore for Andhra Pradesh’s Polavaram project through NABARD

Posted on:27 Dec 2016 09:20:56
Centre gives Rs 1,982 crore for Andhra Pradesh’s Polavaram project through NABARD
27 December 2016 Current Affairs: The Centre released Rs 1,982 crore for the multipurpose Polavaram irrigation project in Andhra Pradesh on December 26, 2016.

The funding is being done through NABARD, which has now started funding irrigation projects. NABARD sanctioned the long term irrigation fund under Prime Minister Krishi Sinchayee Yojana.

Finance Minister Arun Jaitley handed over the cheque to Andhra Pradesh Chief Minister Chandrababu Naidu at a function in New Delhi. 

Mr Jaitley also handed over cheques for Rs 463 crore rupees to Gujarat and Rs 756 crore rupees to Maharashtra for state projects.

National Bank for Agriculture and Rural Development (NABARD) on December 26 revealed that so far it has sanctioned loans worth Rs 35,322 crore under Long Term Irrigation Fund (LTIF)

LITF initiative would ensure doubling of farmers’ income by 2022 under the ambitious Pradhan Mantri Krishi Sinchayee Yojana (PMKSY).

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